BWE Secures $18.5M in Financing for St. Louis Workforce Housing

BWE, a national commercial and multifamily mortgage banking company, has secured permanent financing for three workforce housing communities in St. Louis, Missouri, including the One Loop Apartments, Broadway Park Apartments and Park Vue Flats.

Dan Baker, SVP in BWE’s St. Louis office, secured three loans for the properties on behalf of the borrowers, Affinity Capital LLC and a St. Louis-based housing developer. The loans for Broadway Park and One Loop were originated through Fannie Mae’s Sponsor Dedicated Workforce Housing program, which allowed the borrowers to receive a lower interest rate. All three loans are fixed rate with five-year terms and full-term interest-only payments.

The portfolio of properties contains a total of 247 units spread across 23 residential buildings, with Broadway Park having 104 apartments, One Loop having 59 apartments, and Park Vue Flats having 84 apartments.

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